FirstBank was a key sponsor of the Canada-Africa Fintech Summit (CAFS 2025), held from August 5 to 8 at the Sheraton Centre in Toronto, according to an official statement. Organized by Dr. Segun Aina, President of the African Fintech Network, the summit brought together fintech leaders, regulators, startups, and investors from Africa and Canada.
The event focused on scalable digital solutions, boosting investment, and advancing inclusive economic growth across both regions. With over 131 years in financial services, FirstBank’s sponsorship underscores its dedication to promoting cross-border fintech collaboration, financial inclusion, and innovation worldwide.
Olayinka Ijabiyi, Acting Group Head of Marketing and Corporate Communications at FirstBank, said, “Our support for CAFS 2025 reflects our belief that collaboration between African and Canadian fintech ecosystems can drive transformative innovation. FirstBank is proud to help shape that future.”
During a panel with Mississauga–Lakeshore MPP Rudy Cuzzeto and UN World Food Programme Nigeria Country Director David Stevenson, FirstBank’s Group Executive for E-Business & Retail Products, Chuma Ezirim, emphasized the importance of digital collaboration in Africa’s financial sector.
“We are developing APIs that respect regulatory differences, access rights, and security. The technology is the easy part; the real challenge is ensuring security, consent, and performance,” he explained. Ezirim added that fintech in Nigeria is evolving toward convergence—uniting banks, fintechs, and regulators in a responsive ecosystem. Regulatory clarity is key to building trust and attracting investment, he noted.
In another panel, FirstBank’s Chief Technology Officer, Rachel Adeshina, discussed how AI is enhancing credit access for the underbanked.
“We address data poverty by using AI to analyze alternative data, enabling loans to individuals invisible to traditional credit systems,” she said. FirstBank has disbursed over ₦1 trillion in digital loans through this AI-driven approach with a repayment rate exceeding 99%.
Adeshina stressed that this success is supported by favorable regulations, including API banking and data privacy laws, as well as the shift from account-based to wallet-based banking. She noted, “Digital scale in Africa will come through interoperability. Connecting the continent’s 54 markets is the next big challenge, and fintechs are best positioned to lead.”
The summit is part of Canada’s broader Africa Strategy, focused on strengthening economic ties, digital cooperation, and innovation exchange.
As Africa’s digital finance sector expands and Canada develops its open banking framework, CAFS 2025 provided a timely platform to align strategies and ignite new partnerships.
, held from August 5 to 8 at the Sheraton Centre in Toronto...){kind=link}